Burney Co. boosted its stake in Popular Inc (NASDAQ:BPOP) by 67.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,485 shares of the bank’s stock after acquiring an additional 18,321 shares during the period. Burney Co.’s holdings in Popular were worth $2,371,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Two Sigma Investments LP boosted its holdings in shares of Popular by 207.8% during the 4th quarter. Two Sigma Investments LP now owns 331,683 shares of the bank’s stock worth $15,662,000 after buying an additional 223,914 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Popular by 108.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,076,845 shares of the bank’s stock worth $50,847,000 after buying an additional 559,566 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of Popular by 8.8% during the 4th quarter. Great West Life Assurance Co. Can now owns 12,370 shares of the bank’s stock worth $563,000 after buying an additional 1,003 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Popular by 41.4% in the 1st quarter. State of Alaska Department of Revenue now owns 27,879 shares of the bank’s stock worth $1,452,000 after purchasing an additional 8,160 shares in the last quarter. Finally, Vanguard Group Inc lifted its holdings in shares of Popular by 4.5% in the 3rd quarter. Vanguard Group Inc now owns 9,585,130 shares of the bank’s stock worth $491,239,000 after purchasing an additional 412,087 shares in the last quarter. Institutional investors and hedge funds own 89.49% of the company’s stock.
A number of equities analysts recently issued reports on BPOP shares. BidaskClub upgraded Popular from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. BTIG Research increased their target price on Popular to $66.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Finally, Zacks Investment Research cut Popular from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $59.71.
Shares of BPOP opened at $53.42 on Wednesday. Popular Inc has a 12-month low of $44.22 and a 12-month high of $58.99. The firm has a market capitalization of $5.14 billion, a P/E ratio of 11.20 and a beta of 1.22.
Popular (NASDAQ:BPOP) last issued its earnings results on Thursday, April 18th. The bank reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.24. Popular had a return on equity of 10.58% and a net margin of 24.69%. The company had revenue of $607.39 million for the quarter, compared to analysts’ expectations of $603.70 million. During the same period last year, the business earned $0.89 EPS. On average, analysts predict that Popular Inc will post 6.59 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Tuesday, May 28th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Friday, May 24th. Popular’s dividend payout ratio is currently 25.16%.
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Popular, Inc, through its subsidiaries, provides various retail, mortgage, and commercial banking products and services. The company accepts various deposit products. It also offers commercial and industrial loans; commercial real estate loans; residential mortgage loans; consumer loans, including personal loans, credit cards, automobile loans, home equity lines of credit, and other loans to individual borrowers; construction loans; and lease financing comprising automobile loans/leases.
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